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THE WHAT? Ariana Grande’s REM Magnificence has introduced a strategic funding led by Sandbridge Capital. Strand Fairness, Hybe America, Reside Nation Leisure and Common Music Group additionally participated within the funding spherical.
THE DETAILS The model will proceed to concentrate on its core markets, particularly the US, UK and Europe, with additional enlargement plans to be introduced.
“This has been a really inspiring time for me as a founder, turning my ardour for artwork, self-expression and make-up into actuality and watching REM Magnificence discover its wings, particularly now throughout this new period for the model,” stated Grande. “I’m thrilled to have these wonderful companions be a part of us right now, supporting our imaginative and prescient and enlargement in order that followers worldwide can proceed to develop with us and luxuriate in our merchandise. This subsequent chapter couldn’t be extra thrilling, and I can’t wait for everybody to see what’s but to come back.”
THE WHY? The partnership will assist REM Magnificence realise its world potential by way of continued product innovation, expertise acquisition and geographic enlargement. Ken Suslow, Sandbridge Capital Founder and Managing Accomplice, commented, “REM Magnificence has earned the belief of the sweetness group and customers alike by creating a formidable best-in-class line of merchandise impressed by Ariana’s compelling mission pushed model imaginative and prescient. We’re thrilled to come back along with Ariana and her stellar REM crew in assist of the model’s sturdy development trajectory by way of our world business community and model constructing experience.”
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